Thornburg Investment Management Inc. Sells 12,429 Shares of On Holding AG (NYSE:ONON)

Thornburg Investment Management Inc. decreased its stake in shares of On Holding AG (NYSE:ONON - Free Report) by 8.1% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 141,030 shares of the company's stock after selling 12,429 shares during the period. Thornburg Investment Management Inc.'s holdings in ON were worth $7,724,000 as of its most recent SEC filing.

Several other hedge funds also recently made changes to their positions in ONON. Apollon Wealth Management LLC lifted its stake in shares of ON by 74.0% in the fourth quarter. Apollon Wealth Management LLC now owns 16,005 shares of the company's stock worth $877,000 after buying an additional 6,808 shares during the last quarter. Allspring Global Investments Holdings LLC lifted its position in shares of ON by 34.1% in the fourth quarter. Allspring Global Investments Holdings LLC now owns 1,376,850 shares of the company's stock worth $76,213,000 after purchasing an additional 349,789 shares in the last quarter. Strategic Financial Concepts LLC acquired a new stake in shares of ON during the 4th quarter worth about $30,000. BNP Paribas Financial Markets acquired a new stake in shares of ON in the fourth quarter valued at approximately $39,119,000. Finally, Raymond James Financial Inc. bought a new stake in shares of ON during the 4th quarter valued at approximately $28,575,000. Institutional investors and hedge funds own 36.39% of the company's stock.

Analysts Set New Price Targets

ONON has been the subject of several recent research reports. Telsey Advisory Group restated an "outperform" rating and set a $65.00 price objective on shares of ON in a report on Tuesday, May 13th. Evercore ISI increased their price objective on ON from $60.00 to $70.00 and gave the stock an "outperform" rating in a report on Wednesday, May 14th. Morgan Stanley reduced their price objective on ON from $66.00 to $62.00 and set an "overweight" rating for the company in a research report on Tuesday, May 6th. Needham & Company LLC boosted their price target on ON from $55.00 to $62.00 and gave the company a "buy" rating in a report on Wednesday, May 14th. Finally, Stifel Nicolaus boosted their target price on ON from $57.00 to $66.00 and gave the stock a "buy" rating in a research report on Wednesday, May 14th. Two analysts have rated the stock with a hold rating, twenty have assigned a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat.com, ON currently has an average rating of "Buy" and an average price target of $62.45.

ON Stock Performance

ON stock traded down $0.37 during midday trading on Tuesday, reaching $59.62. 3,065,218 shares of the company's stock were exchanged, compared to its average volume of 4,622,539. The stock's 50-day simple moving average is $46.69 and its 200 day simple moving average is $51.89. The firm has a market cap of $37.54 billion, a price-to-earnings ratio of 138.65, a P/E/G ratio of 1.02 and a beta of 2.30. On Holding AG has a 52 week low of $34.59 and a 52 week high of $64.05.

ON Profile

On Holding AG engages in the development and distribution of sports products such as footwear, apparel, and accessories for high-performance running, outdoor, all-day activities, and tennis. It sells its products worldwide through independent retailers and global distributors, its own online presence, and its own stores.